Press release
Comprehensive Automotive HVAC Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Automotive HVAC Market
The escalation in the desire for premium cars is anticipated to boost the advancement of the automotive HVAC market in the future. A luxury automobile is categorized as a car that is fitted with superior performance attributes, exquisite interiors, and all modern safety and technological characteristics. For premium luxury vehicles, the automotive HVAC device is crucial to create a thermally agreeable atmosphere for every individual based on their preferences. For example, the BMW Group, a manufacturing corporation based in Germany, reported in January 2024 that BMW had 28,723 all-electric car registrations in 2023, signifying a 34% uplift compared to 2022. Consequently, the escalating demand for premium vehicles is fuelling the expansion of the automotive HVAC market.
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What is the future CAGR of the automotive hvac market, and how will it impact industry expansion?
The market size of the automotive HVAC has seen a substantial increase in the past few years. It is projected to rise from $55.35 billion in 2024 to $59.61 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. The historical growth is credited to worldwide automotive production, concerns about global warming, increased demand for energy efficiency, and a surge in commercial vehicle requirements.
Expectations are high for the automotive HVAC market in terms of projected growth in the coming years. By 2029, it's predicted to expand to $81.22 billion, with a compound annual growth rate (CAGR) of 8.0%. The significant growth during the forecast period is due to factors such as the increasing prevalence of electric and hybrid vehicles, the emergence of autonomous vehicles, growth in emerging markets, increased research and development initiatives, and a rise in disposable income. Key trends during the forecast period comprise intelligent and interconnected HVAC systems, thermal comfort solutions, cabin sensing and artificial intelligence, multi-zone HVAC, and ecologically friendly HVAC options.
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What are the most significant trends transforming the automotive hvac market today?
The trend of product innovations is gaining significant traction in the automotive HVAC market. Leading market entities are focusing their energies on developing novel products infused with cutting-edge technologies. Some examples of these advancements include the implementation of automatic climate control to regulate car temperature; the application of green technologies to construct environment-friendly and energy-savvy automotive HVAC systems; and the use of eco-friendly refrigerants, among others. For instance, in July 2024, Modine, a company based in the US, introduced the EVantage cabin climate system. This sophisticated climate control solution is specifically crafted for electric vehicles (EVs) to enhance comfort and energy efficiency. Using intelligent sensors and algorithms, it evaluates and modifies the cabin's temperature and airflow according to current data such as exterior weather conditions, passenger preferences, and vehicle performance. By effectively handling heating, ventilation, and air conditioning (HVAC) operations, the EVantage system diminishes energy usage, elongating the vehicle's operational range while assuring a comfortable drive. The system's creative attributes, which include pre-conditioning capabilities and personalized climate zones, exemplify the progressing norms of sustainability and user-focused design in contemporary electric vehicles.
Which key market segments comprise the automotive hvac market and drive its revenue growth?
The automotive hvac market covered in this report is segmented -
1) By Component: Evaporator, Compressor, Condenser, Receiver/Drier, Expansion Device
2) By Technology: Manual, Automatic
3) By Vehicle Type: Passenger Cars, Commercial Vehicles, Light Commercial Vehicle, Heavy Commercial Vehicle
Subsegments:
1) By Evaporator: Tube and Fin Evaporator, Plate Evaporator
2) By Compressor: Fixed Displacement Compressor, Variable Displacement Compressor, Electric Compressor
3) By Condenser: Air-Cooled Condenser, Water-Cooled Condenser
4) By Receiver/Drier: Standard Receiver/Drier, Desiccant Receiver/Drier
5) By Expansion Device: Thermal Expansion Valve (TXV), Capillary Tube, Electronic Expansion Valve (EEV)
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What regions are at the forefront of automotive hvac market expansion?
Asia-Pacific was the largest region in the automotive HVAC market in 2024. The regions covered in the automotive hvac market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the automotive hvac market?
Major companies operating in the automotive hvac market include Denso Manufacturing Tennessee Inc., Air International Thermal Systems, Valeo Thermal Systems, Hanon Climate Control Corp., Calsonic Kansei North America Inc., Johnson Electric Holdings Ltd., Sanden Holdings Corporation, Sensata Technologies Inc., Marelli Corporation, OMEGA Environmental Technologies, Delphi Automotive LLP., Visteon Corp., Trans/Air Manufacturing Corp., Toyota Industries Corporation, Xiezhong International Holdings Limited., Mitsubishi Heavy Industries Ltd, Behr GmbH & Co. KG, Subros Limited, Webasto SE, Red Dot Corporation, Eberspaecher Climate Control Systems GmbH & Co. KG, DelStar Technologies Inc., Nippon Seiki Co. Ltd., Keihin North America Inc., Modine Manufacturing Company, Zhejiang Yinlun Machinery Co. Ltd., Bergstrom Inc., MAHLE Behr GmbH & Co. KG, The Keihin Corporation, Eberspächer Group, Gentherm
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What Is Covered In The Automotive HVAC Global Market Report?
•Market Size Forecast: Examine the automotive hvac market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive hvac market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive hvac market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive hvac market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive hvac market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive hvac market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive hvac market.
•Competitive Landscape: Review strategic developments in the automotive hvac market, including expansions, agreements, and new product launches.
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